The Comparative Balance Sheet of Posner Company,for 2011 and the Preceding

question 89

Essay

The comparative balance sheet of Posner Company,for 2011 and the preceding year ended December 31,2010,appears below in condensed form:

The income statement for the current year is as follows:

Additional data for the current year are as follows:

Prepare a statement of cash flows,using the indirect method of reporting cash flows from operating activities.

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Definitions:

LGBT Clients

Individuals who identify as lesbian, gay, bisexual, or transgender seeking services or support, particularly in contexts relating to their identities.

Ethnic/Racial Minority Groups

Demographic groups that are smaller in number within a larger community and often differ in cultural, racial, or ethnic heritage from the majority.

Sexuality-Sensitive Therapies

Therapeutic approaches that consider and integrate the sexual orientation, experiences, and needs of individuals.

Reparative Therapy

A controversial and widely discredited practice aimed at changing an individual's sexual orientation or gender identity; also known as conversion therapy.